Bank of America plans Accelerated Return Notes tied to gold spot price

By Devika Patel

Knoxville, Tenn., May 6 – Bank of America Corp. plans to price 0% Accelerated Return Notes due August 2017 linked to the gold spot price, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any gain in the spot price, subject to a maximum return of 11% to 15%. The exact cap will be set at pricing. Investors will have one-to-one exposure to any decline in the spot price.

BofA Merrill Lynch is the agent.

The notes will price in May and settle in June.

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